Oppenheimer & Co. Inc. Boosts Holdings in Sweetgreen, Inc. (NYSE:SG)

Oppenheimer & Co. Inc. grew its holdings in shares of Sweetgreen, Inc. (NYSE:SG - Free Report) by 81.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,070 shares of the company's stock after buying an additional 21,625 shares during the period. Oppenheimer & Co. Inc.'s holdings in Sweetgreen were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its position in Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock valued at $33,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after purchasing an additional 741 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after purchasing an additional 494 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $53,000. Finally, Thematics Asset Management bought a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $69,000. Institutional investors own 95.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Securities reiterated a "buy" rating and issued a $25.00 price objective on shares of Sweetgreen in a report on Thursday, May 15th. Morgan Stanley decreased their price target on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Barclays assumed coverage on shares of Sweetgreen in a research note on Friday, June 6th. They set an "equal weight" rating and a $16.00 price objective on the stock. Wells Fargo & Company assumed coverage on shares of Sweetgreen in a research note on Monday, June 16th. They set an "overweight" rating and a $19.00 target price for the company. Finally, The Goldman Sachs Group lowered their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Sweetgreen has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Sweetgreen Trading Up 10.3%

SG traded up $1.40 during trading on Monday, hitting $14.99. 724,966 shares of the company's stock traded hands, compared to its average volume of 4,355,478. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.47 and a beta of 2.06. The company's 50 day simple moving average is $15.05 and its two-hundred day simple moving average is $23.16. Sweetgreen, Inc. has a 12-month low of $11.86 and a 12-month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The company had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. During the same period last year, the firm posted ($0.23) earnings per share. Sweetgreen's revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Transactions at Sweetgreen

In related news, Director Clifford Burrows bought 19,200 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the acquisition, the director now owns 19,200 shares of the company's stock, valued at $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,088 shares of Sweetgreen stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the sale, the chief financial officer now directly owns 334,421 shares of the company's stock, valued at approximately $5,093,231.83. This trade represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.52% of the company's stock.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.